403(b) Retirement Plans
A 403(b) retirement plan is a tax-sheltered annuity (TSA) offered by schools, hospitals, churches, charities and certain other tax-exempt organizations. An individual’s 403(b) annuity can be obtained only under an employer’s TSA plan. Generally, these annuities are funded by elective deferrals made under salary-reduction agreements and may include non-elective employer contributions.
Participants may include:
- Employees of public school systems, colleges or universities (teachers, school administrators, school personnel, professors, researchers, librarians)
- Employees of entities tax-exempt under section 501(c)(3) of the Internal Revenue Code (charitable, scientific, educational, etc.)
- Employees of cooperative hospital service organizations (for example, nurses and doctors) • Church employees and ministers
- Employees of public school systems organized by Indian tribal governments
At D’Arcangelo & Co., our services will include:
- Helping you understand how the Department of Labor’s (DOL) new financial reporting and audit requirements will affect your plan
- Providing a timely and accurate professional Independent audit of your plan according to applicable rules and regulations
- Communicating with your service provider on the plan’s information needs
- Determining what comparative financial information the plan will need
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